- The Cardano team has launched the first functional mainnet version of Hydra, the mass scaling solution for the ADA ecosystem, which aims to enable millions of transactions per second and pave the way for mass adoption of Cardano.
- Hydra is a Layer 2 scaling solution that bundles and processes ADA transactions before sending them back to Layer 1. The Hydra heads increase the scalability of the network, and validators can manage each head with their own hardware, creating an international and decentralized network.
- The Cardano team has also made progress in interoperability with other ecosystems, including successfully connecting the Djed stablecoin with the Ethereum network and launching a test version for cBTC, a Bitcoin token for Cardano.
Cardano Launches First Functional Hydra Version
The Cardano team has achieved two important milestones recently. They have released the first functional mainnet version for Hydra, which is the most significant scaling solution for the ADA ecosystem. The goal of the Hydra team is to enable several million transactions per second, paving the way for mass adoption of Cardano.
Hydra is a family of layer 2 protocols designed to make #Cardano more scalable and adaptable for various use cases that require fast and cheap transactions. The first Hydra head recently opened on mainnet.
This video is a great starting point for exploring the current release,… pic.twitter.com/g1moYifGNj
— Input Output (@InputOutputHK) May 4, 2023
How Does Hydra for Cardano Work?
Hydra is a Layer 2 scaling solution that bundles and processes ADA transactions before sending them back to Layer 1. Each Hydra head linearly increases the scalability of the network. Furthermore, validators can manage each head with their own hardware, creating an international and decentralized network.
Hydra does not involve a hard fork, unlike previous updates such as Vasil. The Cardano team develops the feature gradually as more heads are added, allowing the network to grow like the mythical Greek figure.
Cardano Interoperability with Other Ecosystems
The Cardano team is not only working on developing their network but also on connecting the ADA ecosystem with other ecosystems. Recently, they launched a test version for cBTC, a Bitcoin token for Cardano. They have also made progress in connecting Cardano with its biggest competitor, Ethereum, through the Milkomeda C1 Sidechain.
The Djed stablecoin team and Milkomeda have successfully implemented the Djed stablecoin protocol on the Milkomeda network. Developers can interact with the stablecoin’s protocol directly using Ethereum-specific smart contract programming language Solidity. This integration allows both ecosystems to benefit from each other’s liquidity and development opportunities.
Goals for Hydra’s Next Upgrade
The Hydra team recently held their Monthly review meeting and drafted a report. They added the spec into the repository and website, addressed a user issue, fixed the TUI peer list, and conducted a Twitter space on Auctions use cases. Their goals for next week include releasing version 0.10.0, implementing timed transactions support, writing a Query API ADR, and grooming work items like off-chain benchmarks.
In conclusion, the launch of the first functional Hydra version is a significant milestone for Cardano and brings the network closer to mass adoption. The progress in interoperability with other ecosystems also demonstrates Cardano’s commitment to collaboration and development.